Golden Ocean (Buy, TP: NOK142.00) - A ‘golden’ supply side
We believe the limited share-price reaction to what we deemed soft Q3/Q4 fixtures demonstrates that sell-side revisions are lagging behind investor expectations. In our opinion, Golden Ocean’s current 0.75x P/NAV suggests that most of the market concerns are already priced in, and we consider current levels attractive based on risk/reward dynamics. We reiterate our BUY and have raised our target price to NOK142 (140).
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.